Boosted by sterling H1 performances in Latin America and stellar football-fuelled trading in late Q2, Swedish-origin Omnichannel Betsson is on a roll.
The Stockholm-listed iGaming group, headed by Pontus Lindwall, has posted record high Group Revenues of €520 million (£437.68m) for its financial half, ending June 30 — up 13 percent, compared to last year’s H1.
Revenue for Q2 was recorded at €272 million (£228.94m), up 15 percent year-on-year.
A further breakdown of Q2 trading by vertical saw iCasino revenue up 16 percent to €191 million (£166.76m) and sportsbook revenue hit €79 million (£66.49m), a 13 percent rise on the same quarter in 2023.
The number of active players across the Betsson brands grew by an impressive 25 percent during the half year timeframe.
“The second quarter of 2024 meant continued high growth and strengthened profitability with new records in both revenue and operating income for Betsson,” affirmed Lindwall.
“The high customer activity continued throughout the quarter–as expected, the UEFA EURO and Copa America contributed positively in June–resulting in strong key figures across the board.”
Expansion
Betsson’s Q2 EBITDA was €78 million (£65.65m), a y-o-y rise of 15 percent, maintaining a margin of 28.6 percent.
Driven principally by iCasino; Croatia, Lithuania and Estonia all reported all-time high revenue in Q2, with Betsson’s Central & Eastern Europe and Central Asia (CEECA) market generating €114 million of revenue (£95.95m).
And records were also smashed in Latin America, regional revenue was up by 21 percent, year-on-year, to €62 million (£52.18m) and online casino revenues doubled to €36 million (£30.30m).
Peru, where Betsson’s subsidiary, Inkabet, migrated to a new operating platform, and their Betsson and Betsafe brands received their first local licences in the newly-regulated market, was a stand-out.
On a down note, business in its home Scandinavian markets, particularly Sweden, continued to lag with an eight percent slump in income to €47 million in the second quarter (£39.55m).
“I am pleased with what we have delivered so far this year and see good growth opportunities in the second half of the year as well,” concluded Lindwall.
“We continue to invest in geographic expansion and the product offering to enable continued profitable growth and value creation for a long time to come.”
